From GlobeNewswire.: 2024-06-13 07:00:00

Istanbul, Türkiye – Hepsiburada, a leading Turkish e-commerce platform, reveals strong Q1 2024 financial results. GMV up 42.5%, revenue up 45.0%, with active customers growing by 1.4%. EBITDA improved significantly to TRY 289.4 million. Net loss decreased to TRY 130.7 million, with positive free cash flow of TRY 1,029.6 million. CEO Nilhan Onal Gökçetekin expresses confidence in sustainable growth and profitability strategies moving forward.

Key operational and financial metrics for Q1 2024: GMV reached TRY 36.3 billion, with Marketplace GMV at TRY 24.8 billion. Marketplace GMV accounts for 68.4% of total GMV. Number of orders increased by 21.7% to 29.3 million. Active Customers now at 12.1 million. Revenue increased to TRY 11,309.6 million. EBITDA as a percentage of GMV improved to 0.8%. Net loss for the period decreased by 59.8%. Free cash flow was positive at TRY 1,029.6 million.

Performance highlights include a 137.8% year-on-year GMV growth on an unadjusted basis. EBITDA as a percentage of GMV saw a 1.2 percentage point yearly rise on an unadjusted basis. Strategic priorities focused on improving user experience and expanding value propositions have led to competitive NPS metrics and increased order frequency. Hepsiburada Premium program saw enrollment exceeding 2.6 million members. Merchants show a preference for last-mile delivery services, with HepsiJet delivering 68% of total parcels on the platform.

As Türkiye faces a challenging macroeconomic environment, Hepsiburada remains a trusted household brand for consumer purchases. Strategic priorities and strong fundamentals position the platform for sustainable and profitable growth. Anticipated GMV growth of around 75% in Q2 2024 compared to the same quarter last year, with expected EBITDA within the range of 1.8% to 2.0% of GMV on an unadjusted basis. Appreciation expressed for the team, customers, partners, and shareholders for their support and collaboration in achieving company objectives.



Read more at GlobeNewswire.:: Hepsiburada Announces First Quarter 2024 Financial Results